Shoe Carnival Inc. reported earnings rose 7.1 percent in the first quarter to $13.9 million, or 91 cents a share. Comps in the quarter dipped 0.2 percent due to the later tax refund season as well as inclement weather impacting February, but the combined months of March and April increased 3.6 percent.
Author: SGB Media
Avenatti Indicted In Nike Extortion Case
Controversial lawyer Michael Avenatti was charged with trying to extort Nike out of more than $20 million dollars by threatening to go public with claims the company was facilitating payments to the families of high school basketball stars. Avenatti separately was charged with stealing about $300,000 from his former porn star client Stormy Daniels.
Norrona’s First American Concept Store To Open Memorial Day Weekend
Norwegian outdoor brand Norrona will open its first U.S. brand store in Boulder, CO. The Pearl Street Mall location will open to the public on May 25 and will include all of its collections, including apparel for mountaineering, hiking, hunting, mountain biking and skiing.
Finalists Announced For Outdoor Retailer Inspiration Awards
Finalists for the ninth annual Outdoor Retailer Inspiration Awards presented by Adidas Outdoor were announced Wednesday by Outdoor Retailer.
OIA Skip Yowell Future Leadership Academy Announces Capstone Projects
Outdoor Industry Association (OIA) announced capstone projects for Class 4 of the Skip Yowell Future Leadership Academy (FLA), an immersive leadership experience for the next generation of outdoor industry game-changers. This year’s class includes 35 driven emerging leaders from REI, Yakima, Pacific Crest Trail Association, Backcountry.com, The North Face, Outdoor Research, Burley and others.
Peloton Announces Expansion Into Germany
Peloton announced plans to launch in Germany, its third market outside the U.S., by the end of this year.
Foot Locker Surprises High School Seniors With Scholarships
For the eighth consecutive year, the Foot Locker Foundation has awarded $20,000 scholarships to 20 outstanding student-athletes.
Urban Outfitters’ Q1 Pulled Down By Margin Pressures
Urban Outfitters Inc. reported earnings in the first quarter declined 21,0 percent to $32.6 million, or 31 cents a share as gross margins were hurt by underperforming women’s apparel at the Anthropologie and Urban Outfitters brands. Earnings surpassed Wall Street’s target of 26 cents.
Modell’s To Test Smaller Stores
Modell’s Sporting Goods plan is to open 10 locations spanning 5,000 and 8,000 square feet across New York City, according to The Real Deal.
VF Corp. Disappoints On Outlook
VF Corp. reported earnings and sales in the fourth quarter came in ahead of Wall Street’s consensus estimates but provided 2020 guidance that was lower than targets. By segment, revenue for Outdoor is expected to increase approximately 4 percent to 5 percent, or 5 percent to 6 percent on a constant dollar basis, and revenue for Active is expected to increase approximately 6 percent to 7 percent, or 9 percent to 10 percent on a constant dollar basis.
Kappa Signs Aston Villa
Kappa, the Italian sportswear brand, in a partnership with Fanatics signed a three-year deal to become the kit supplier to English second-tier soccer club Aston Villa.
Blackyak Expands U.S. Sales Team
Technical apparel brand Blackyak has recruited industry veteran Jim Angeles for North American sales representation in the Rocky Mountains.
Nordstrom Trims Full-Year Forecast On Weak First-Quarter Start
Nordstrom Inc. reported first-quarter earnings fell well short of Wall Street’s targets as execution issues associated with the launch of its enhanced loyalty program was partly to blame for a sales shortfall. It now expects 2019 net sales between a 2 decline to flat growth, compared with its previous projection of 1 percent to 2 percent rise.
Rocky Brands Declares Increase In Quarterly Dividend
Rocky Brands Inc. announced that its board of directors has approved a two cents increase, or a 16.7 percent increase, of its quarterly dividend to 14 cents per share of outstanding common stock,
Can Amazon Help Kohl’s Get Back On Track?
Kohl’s registered a disappointing first quarter, to say the least, with a high-double-digit net income drop, slight revenue dip and EPS miss. On Tuesday’s earnings call, CEO Michelle Gass told analysts, “We have adjustments underway to get us back on track.” One of those is an expanded return program with Amazon. Will it be enough?
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